A study that estimates Google last year raked in $4.7 billion from news content has drawn widespread criticism. That $4.7 billion is a conservative estimate, according to the News Media Alliance, the trade group that released the study. That's because the estimate doesn't take into account Google's advertising revenue from publishers and data collected from news content.

Accessories business Tapestry, formerly known as†Coach Inc,†swung to a loss in the first quarter as it was hampered by costs related to the acquisition of Kate Spade, but the addition of the brand helped drive net sales by 24% in the period.